Financial Services Ministry Hosts Global Tax Conference

Published 5th April 2017, 10:8am

With a slate of speakers representing the OECD, global and local industry, public affairs and a NGO, the Ministry of Financial Services is hosting the Tax Transparency in the Global Financial Services Ecosystem conference today (Wednesday, 5 April 2017).

‘From the world’s foremost minds on tax transparency and the ecosystem in which it operates, the leaders of Cayman’s financial services firms will hear first-hand about the global dynamics to which Cayman contributes, and by which it is affected’, said Minister of Financial Services Wayne Panton.

‘It also gives industry an opportunity to probe these developments via the scheduled Q&A sessions and informal conversations’.

Delivering the keynote will be Pascal Saint-Amans, the OECD’s Director of the Centre for Tax Policy and Administration. Recognised internationally as one of the most influential persons in tax, Mr Saint-Amans will draw on his vast experience to put tax transparency into context for governments, industry and civil society, and to outline the themes that are shaping the future.

Following a Q&A with Mr Saint-Amans, two panels will be presented. The first, Transparency: The Golden Thread of Information, will be chaired by Timothy Ridley, one of Cayman’s industry leaders. Panellists will be Thomas Tindemans, Chairman of Global Public Affairs for H+K Strategies, a communications firm; Denise Hintzke, Deloitte’s Managing Director and Global Tax Leader for the US Foreign Account Tax Compliance (FATCA) Initiative; and Radhanath Housden, Head of the Automatic Exchange of Information Unit, with the Global Forum on Transparency and Exchange of Information for Tax Purposes.

‘With this panel, the audience will explore issues such as tax avoidance, competition and fairness, including beneficial ownership’, Minister Panton said.

‘Panel two will consider the effects of transparency, global tax initiatives and international tax cooperation upon the behaviour of commercial businesses, financial services providers, investors, taxpayers, government authorities and the general public’, Minister Panton said.

A closing session, chaired by the Ministry’s Chief Officer Dr Dax Basdeo, will bring together Mr Saint Amans, Mr Ridley and Mr Coles for a summary of the day’s proceedings.

Minister Panton said the conference is well timed.

‘Throughout history, taxation has always garnered significant public interest, and rightfully so’, he acknowledged. ‘But no doubt, this is one of the most dynamic periods in the history of international tax because the confluence of issues, mixed with diverse international opinions and sovereign policy positions, makes it an increasingly complex subject.

‘During this conference, then, we’re encouraging attendees to air and where necessary, to substantiate, their views, in order to foster understanding and actions that support both national tax needs and global regulatory outcomes’.

For more information, please contact the Financial Services Secretariat at (345) 945-5819 or via email at financepr@gov.ky.